How to Guide: Refinancing a Mobile Home In a Park

This how to guide is designed to make refinancing your mobile home in a park simple and quick. There is absolutely nothing wrong with owning a home in a park or community. If your having trouble finding financing you’ve come to the right place. For over 15 years, Financial Services Unlimited has been helping people refinance their homes and lower their monthly payments.

Our Goals:

Make refinancing mobile homes (in parks) easy

Lower your monthly payments and save you money

Convert your variable rate to a fixed rate

How to Guide- Mobile home refinancing in parks

We created a short and informative “How To” Guide that explains in 4 simple steps how to refinance your home (in a park).

Step 1.

Determine your reason(s) for wanting to refinance your Mobile or Manufactured Home Loan.

Lower your interest rate

Lower your monthly payment

Add or remove someone from the home title

Convert your variable rate to a fixed rate

Obtain cash-out of your home for home improvements or to pay-off higher interest rates credit cards or loans

Convert your balloon loan to a fully amortized loan

Pay off your Private Party Note and replace it with a Traditional Lender mortgage who reports to the credit bureaus

Want to include property taxes and insurance in your monthly mortgage payment

Step 2: Get Organized

Locate your current mortgage note to familiarize yourself with your current loan terms

Loan length of time

Interest rate

Variable rate versus fixed

Any balloon features

Gather your home information

Year home was manufactured

Home Manufacturer’s Name

Model Name of Home

Width and Length of Home or Square Footage

Gather your Employment and Income Information for all parties to be on the loan.

Locate last pay stub and W-2

Have work number handy

Know your average number of hours worked each week

If retired, determine your monthly Social Security Income before the Medicare deduction and monthly pension income

If self-employed locate last two years of Federal Tax Returns

Step 3: Understanding your Credit History

Understanding your credit history is very important when applying for credit. The terms of your new loan will be based by your credit score and current credit obligations.

Have some sense of your credit score

If you have no idea, we suggest that your contact www.annualcreditreport.com to obtain a free credit report. The credit bureaus are required to provide you a free credit report annually if requested. They may however charge a small fee for your credit score.

Step 4: Apply to refinance your Mobile or Manufactured Home loan

Or if you prefer, call us at 800-238-9202 and we would be happy to assist you.

Getting Started

Mobile Home Loan Request:

Get started finding current rates on mobile home financing programs by completing the form below. If you have experienced bankruptcy within the last 5 years, or if your credit score is below 660, please visit our
credit repair section before applying. Call 1-800-238-9202 for more info.